.Representative imageBeauty and also personal care firm Honasa Consumer-- the moms and dad entity of Mamaearth-- is actually ceasing its own ayurvedic beauty company Ayuga.In a profits discussion on Friday, Honasa Customer said it could certainly not develop a product-market fit and started sunsetting the brand name from June this year.Following the ending of Ayuga, Honasa Buyer will certainly have six brand names in its own profile-- Mamaearth, its biggest brand, The Derma Co, Aqualogica, Dr Sheth's, BBlunt, and Staze, under which the firm offers colour cosmetics products.Honasa Individual disclosed a 19% year-on-year rise in operating revenue for the April-June time period to Rs 554 crore, while net profit climbed 62% on year to Rs 40 crore.In the discussion, Honasa said Ayuga was introduced to offer ayurvedic elegance items in present day styles for Indian millennials back in December 2021. The label was actually renewed two years later, based upon customer responses, it added.However, the brand name stopped working to obtain any kind of traction even with the adjustments. Ayuga was an online merely brand.Other new-age brands in the ayurveda-focused elegance and private care space consist of Top XV Allies and also Fireplace Ventures-backed Nathabit, Premonition Ventures-backed The Ayurveda Firm, and Vertex Ventures-backed Kapiva.Nathabit has apparently crossed an annualised income fee of Rs 100 crore in FY24, while Kapiva mentioned Rs 114 crore in operating revenue in FY23.
Published On Aug 10, 2024 at 01:18 PM IST.
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